March 23, 2022 | By Bronwen Largier | Image: Tourism Australia
Tourism Australia’s international business events subvention program the Business Events Bid Fund has received another $5 million with Australia’s Prime Minister Scott Morrison announcing a total of $60 million in funding to attract international visitation back to Australia.
As part of the package, Tourism Tropical North Queensland has been given $15 million to bring international tourists back and to promote the Great Barrier Reef while Tourism Australia has been given $15 million to spend on international tourism advertising and $25 million for partnerships with trade wholesalers, airlines and media to drive international visitation for Australia.
With the additional $5 million, the bid fund timeframe will also be extended, with both application and travel deadlines yet to be confirmed.
Applications are currently open until the end of this financial year, with event dates until the end of December 2026.
“Our Government is working with the sector on a long-term strategy to grow the value of the visitor economy to $230 billion by 2030,” said federal minister for trade, tourism and investment Dan Tehan.
The business events subvention fund, managed by Tourism Australia’s dedicated business unit, Business Events Australia, has supported 57 bid wins since it launched in 2018, with the secured bids worth over $450 million in economic impact to Australia.
The Business Events Council of Australia (BECA) has applauded the business events funding.
“This investment is a critical step in Australia’s international recovery and adds much needed certainty to international interest in Australia,” said BECA Chair Leo Jago.
“As we emerge from pandemic restrictions, global competition for consumers, talent, business, and investment has never been greater; and business events provide an ideal platform to promote Australia to the world.”